Unit 2 · Level 2 · Journaling
Review: the black box
Aircraft carry black boxes because human memory of an incident is worthless in an investigation. Your journal is the same instrument: four columns logged live, a weekly ritual for process, a monthly one for statistics, expectancy computed from your own rows, and leaks named and hunted. Time to check the instrument works.
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What you get asked
Match each journal concept to its essence
Log, review, compute, hunt. Each piece feeds the next: columns make reviews possible, reviews find leaks, expectancy tells you if fixes work.
Why must entries be written AT the trade rather than reconstructed later?
By the weekend, panic has become 'caution' and a chase has become 'conviction'. The journal's whole value is that it can't be sweet-talked.
The most dangerous trade in your journal is the rule-___ trade that made money.
It pays you to build a bad habit, a slot-machine lesson your brain files under 'works'. Review exists to catch exactly this trade.
A trader wins 62% of trades and is still down over 200 trades. What's the most likely story?
Classic pattern: take profits fast (small wins), let losers run (big losses). Win rate flatters; expectancy tells the truth.
What is the journal ultimately FOR?
Not a trophy case, not a confessional: an instrument. The mirror shows the leak, the rulebook patches it, and next month's data settles whether it worked. 🐜
The rest of this unit
Memory spins, data doesn't. Turn your trades into numbers you can fix.